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Tagirbekova K.R.. Bases of bank activity (Banking) Under the editorship of Tagirbekova K.R. - M: the Publishing house "INFRA TH", Publishing house All World, 2003 . - 720 p. - (Higher education)., 2003

the macroeconomic factors influencing liquidity.

Economic and political conditions in the country. Stability of general political and economic conditions in the country has direct influence on stability of a banking system as a whole and a bank of commerce as its link in particular. In many respects it defines trust degree to banks from the population, and also degree "politizirovannosti" a banking system. Any display of instability in the given spheres leads to a sharp aggravation of a problem of liquidity of banks of commerce. Efficiency of state regulation and the control. Banks of commerce test on themselves all spectrum of influences of the state measures of monetary - credit regulation. It is shown in an establishment of rules of law, reguli-rujushchih bank activity as a whole, and also in an establishment of obligatory specifications for performance and sanctions for their infringement. Central banks of the countries with market economy regulate solvency of banks of commerce by means of an establishment of restrictions on their activity. Direct influence on liquidity and solvency render, in particular, following moments: restriktsionnaja a policy of the Central Bank (rate increase of refinancing by the Central Bank, change of norms of obligatory reservation, the minimum size of a shareholder's interest, have an establishment of obligatory economic specifications direct influence on structure and efficiency of active and passive operations of banks); The fiscal policy of the state (establishments of taxes, the indirect and which direct payer is the bank, affects its liquidity and pla-tezhesposobnost); Central Bank operations in the open market with the state securities and a foreign currency essentially influence interest rates, exchange rates, etc. Besides, the readiness and effectiveness of spent economic policy, validity of the established specifications and efficiency have great value Influence measures on banks-infringers. State regulation and the control should stimulate banks to maintenance of sufficient level of liquidity as one of primary factors in poderzhanii stability as banking system, and all economy. Development and efficiency of segments of the financial market. This factor causes character of redistribution of temporarily free money resources between participants of the financial market and, in particular, between banks. So, the high level of development of the market gives the chance to banks of fast call for funds with a view of liquidity maintenance, and the stable market tone provides possibility of fast realisation of securities if necessary.
The given factor has appreciable influence on degree of liquidity of assets as a necessary condition of liquidity of assets is the developed market for their realisation. Possibility of attraction of support from the state. It is shown through a spent monetary and credit policy of the government and the Central Bank, for example, in possibility of reception of government credits from Central Bank resources. At the development present stage macroeconomic factors define the general instability of a banking system of Russia, having strong negative influence on financial stability of banks of commerce, and, in particular, on their liquidity. Let's pass now to consideration of the factors operating at microlevel, i.e. At level of the bank (fig. 8.4 see).

a Fig. 8.4. The Microbusiness factors influencing liquidity of bank.

a Fig. 8.4. The Microbusiness factors influencing liquidity of bank.

Sufficiency of a shareholder's interest of bank. The considerable size of a capital base of bank positively affects level of its liquidity, as a shareholder's interest: carries out a role of the shock-absorber in case of occurrence of the unforeseen circumstances, able to entail withdrawal of means, and, as consequence, to cause liquidity or solvency crisis. The given indicator has huge value for normal functioning of bank, therefore its is minimum admissible size is regulated legislatively (the Instruction of the Central Bank of the Russian Federation, 1, Basel agreements in the western countries). Quality and stability of resource base of bank. As is known, the resource base is the defining factor for volume and degree of development of active operations of bank, and, hence, its stability influences a financial soundness and liquidity of bank. It is necessary for bank staff to carry out the constant control over these indicators, to carry out the structural analysis of passives on purpose under-derzhanija optimum values for the means involved on an urgent basis as they help bank to support equation between assets and liabilities on terms and the sums so, and liquidity of bank. Degree of dependence on external sources of loan. The such dependence is more strongly expressed at bank, the there can be problems in case of occurrence even time insolvency more seriously. So, the crisis of the interbanking market which has developed in August, 1995, has shown degree of instability of bank structures at occurrence of crisis situations when even small on volumes non-returns of means have put some banks on a survival side. Force of influence of the given factor directly depends on a stock of financial durability of bank, and also from the policy spent by bank.
Equation of assets and liabilities on the sums and terms. The given factor has basic value in the course of maintenance of liquidity of bank in particular and its financial soundness as a whole. Such equation practically excludes possibility of occurrence of crisis of liquidity and solvency in bank as liabilities of bank will be provided by available resources, and the coordination of assets and liabilities on terms will provide timely settlement of commitment without unprofitable realisation of assets. The above this coordination, the sbalansirovannee the policy spent by bank, above its liquidity, ustojchivee financial circumstances. Riskiness of assets of bank means probability of potential losses at realisation of assets or risk of a non-return of the means enclosed by bank. Riskiness of assets depends on many factors of an internal and external order, such, as: bank strategy at placing of means, structure and quality of its advances portfolio, activity of investment in securities, quality of the spent financial analysis, a condition of real sector of economy, public finances, etc. So, a credit risk as one of components of risk of active operations, represents in the conditions of non-payments and the general economic crisis the extremely serious problem for the Russian banks in this connection the special attention should be given to credit rating and a financial position of borrowers. As a whole the above the risk of active operations of bank, the is more probability of occurrence of losses at transformation of assets in money resources, and it, in turn, will negatively affect and its liquidity. Profitableness of assets of bank. This factor renders raznonapravlennoe influence on liquidity. On the one hand, than more share of working assets in the bank balance sheet and the above their efficiency, profitableness, the ustojchivee financial consisting - nie bank. On the other hand, profitableness growth is almost always interfaced to risk increase in this connection requirements to liquidity raise. 8. Structure and asset diversification. In managerial process by liquidity it is necessary to give special attention to structure of assets. For example, for realisation it is settlement-cash services clients, return of means from on-demand accounts it is necessary for bank to have a certain stock vysokolikvidnyh assets. Considering their low or zero profitableness, the bank should support a share of these assets on mi-nimalno possible level, sufficient, however, to remain solvent and liquid. Asset diversification, i.e. Their placing in various directions, has positive influence on liquidity level as in this case about risk of assets decreases. However it is impossible to suppose and excessive diversifikatsii - it can lead to uncontrollability of a portfolio of assets, growth of the organizational costs connected with management by it, and, as consequence, to losses. At asset diversification it is necessary to consider influence of such factor, as a financial soundness of bank customers and banks-partners for it substantially influences stability of a financial position of bank, prospects of its development, and, thereby, on its reliability and liquidity. To avoid the losses caused, for example, by a non-return of credits or necessity to bear responsibility under guarantee certificates for insolvent clients, it is necessary for bank to trace changes in clientele financial circumstances, to study requirements and a financial position of potential clients, and also to aspire to reception of as much as possible authentic and all-round information on the partners. It is necessary to notice, however, that liquidity of bank is influenced also by other factors, for example, volume, structure and performance terms zabalansovyh operations. At an estimation of liquidity on the basis of balance data the analysis of this factor allows to consider influence zabalansovyh operations and by that with bolshej reliability to define an actual condition of bank. However, thus analytical conclusions have character of the forecast as responsibility under the liabilities of bank reflected behind balance, not always can come. Nevertheless such analysis has great value, and underestimation of corresponding obligations can lead to decrease in liquidity or even to nelikvidnosti bank. The similar situation can be generated, for example, excessive activity of bank in delivery of guarantees. So, we have considered the factors influencing liquidity of bank. However not only they define liquidity of bank. Liquidity of a bank of commerce is based on constant maintenance by means of operational management of objectively necessary parity between three components: a shareholder's interest of bank and borrowed funds, on the one hand, and the placed means - with another. Realisation of this purpose assumes the analysis, the control and bank asset-liability management. We will pass to consideration of a following analysis stage of face-visibility.
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Information related "the macroeconomic factors influencing liquidity."
  1. a stage. The analysis of the factors influencing liquidity
    the large quantity of factors raznonapravlennogo actions influences. Therefore at revealing of developing negative tendencies in the field of liquidity it is necessary for financial analysts of bank to reveal the major factors which have caused these tendencies, to analyse their influence and to develop recommendations about change of a banking policy for the purpose of the prevention of negative
  2. an estimation of the factors influencing strategy of bank
    the factors influencing strategy of bank, it is necessary to reveal such factors and to analyse their effect. On fig. 8 the sequence in which the bank environment is studied is shown. {foto7} a Fig. 8. Algorithm of research of an environment of bank In the course of the analysis of an environment of bank ry-night possibilities and the risks which are taking place under current conditions
  3. Kursoobrazujushchie share market factors
    the profitability forecast in the future period; S level of costs; S degree of loading by orders; S management; Saleabilities. Factors of the market of capitals: S liquidity of investments; S a call money rate under bonds; S yield under foreign investments; S the taxation of investors. Rynochno-technical factors: Purchase for rate maintenance; S buying up for controlling interest reception;
  4. 6.1 THE FUNDAMENTAL ANALYSIS.
    ther complete knowledge of a condition and tendencies of development of a world currency system, of the nature of the macroeconomic indicators influencing dynamics of rates of exchange are necessary for successful operations in the currency market. The exchange rate relationship, in the end, is defined by fundamental factors key statistics of a condition of national economies. The modern economic
  5. 10. 2. SYSTEM DRTSNTRALIZOVANNOGO OF MANAGEMENT OF LIQUIDITY
    the separate credit organisation пірс іставляст Itself difficult system action for measurement, the analysis. To the control and liquidity regulation. AS liquidity credit органіпации is influenced by set of the factors laying in sphere of formation own kanilala, the involved resources, ra zmeshchenija means, і ozdanija r «. To ditches, managerial process by liquidity on
  6. 2. An estimation of liquidity of actives of the company
    the relation of the most liquid actives to kratkosroch - nym to obligations. Thus the most liquid actives develop of the sum of money resources and short-term securities, and short-term obligations - from the sum of the most urgent obligations and short-term passives. The factor of absolute liquidity shows, the organisation can extinguish what part of short-term debts in the near future. The
  7. Section III. MACROECONOMIC
    the economic theory, named "Macroeconomic". The question First of all arises: how and when the concept "macroeconomic" was born? What specific relations peculiar to national economy of each country, it
  8. the Exchange risk and macroeconomic of a rate of exchange
    the market of financial assets 1 portfelnyj a choice, a market equilibrium and the award for risk 1 Choice of an optimum portfolio the investor 2 Balance in the market of financial assets 3 Inflation, real call money rates and rate of exchange 5 Model of real yields 5 Structure of a portfolio and exchange risk 7 Difference of real yields and the award for risk 8 The forward award and redundant
  9. 3.1. The analysis of fundamental factors 3.1.1. The fundamental factors influencing a rate of exchange
    the national economy, acting in intermediate term prospect. They influence participants of the currency market and an exchange rate level. Agency "Рейтер" publishes the forecast of the basic economic indicators of the developed countries: ЕС/1. Usually it is data of the macroeconomic statistics, published by national statistical bodies. There is a special schedule of publications of the
  10. the Theme 9. Macroeconomic balance And its maintenance.
    the mechanism of maintenance of the general balance. Models of macroeconomic balance of F.Kene, K.Marx, V.Lenin, L.Valrasa, J. Keynes, J. Neumann. The theory of accidents. Aggregate demand and aggregate supply. Concept of the animator and its practical importance. Paradox of interaction of macrodemand and the macrooffer in Russia. The additional literature Abalkin A.Paradoks of the macroanalysis
  11. Macroeconomic (1)
    the Method of the economic analysis based on an estimation aggregated (comprehensive) indicators. Elements of the macroeconomic analysis meet already at representatives of classical school of political economy (one of the first macroeconomic models F.Kene's economic table is); 2) the economic science investigating economy as whole, and also major it sektory (domohozjajstva, business, public
  12. Cost of the right of lease
    the right of use and the order property under the lease arrangement. Change of cost of the real estate depends on a number of factors. They can be divided on objective and subjective. Objective factors characterise situations typical for the market and motives of behaviour of participants in the deal. Objective factors are basically economic, they are divided on microeconomic (ecological,
  13. 2. The Liquidity analysis of a bank of commerce
    the bank of commerce could function stably and effectively, the bank management should pay the big attention to the analysis of indicators of activity of bank and spent operations. Carrying out of the financial analysis in bank has huge value for on the basis of its results the management estimates existing and develops perspek-tivnuju a banking policy, defines efficiency of separate kinds of
  14. Asset management
    the minimum risk, and maintenance thus liquidities of bank. The basic problem of asset management is uncertainty of the future requirement for liquid assets which the bank should trace and predict constantly. That the bank kept liquidity, its assets should satisfy to a number of criteria: The certain share of assets should be in vysokolikvidnoj to the form, i.e. Sufficient level of reserves of
  15. Factor of absolute liquidity.
    the individual businessman should worry about absolute liquidity more. It is possible to present this indicator the following formula: 1 Kabs.likv. = (4.3) 1+2+ This factor shows, whether enough cash money resources for settlement of the current obligations to
  16. Chapter 10. The mechanism of adaptation of the prices in the conditions of the flexible and fixed rate of exchange
    the purpose of achievement of macroeconomic balance in the conditions of open economy The macroeconomic theory of open economy considers various methods of change of the balance of payments with the purposes of overcoming of infringement of external balance: Automatic adaptation (market) - by means of prices and incomes; Various types of a policy of adaptation; Monetary and portfelnyj approaches
  17. the Method of chain substitutions
    the first substitution of an actual value of the factor and}: Let's make the second substitution — a factor actual value u At last, we will make the third substitution of the factor with: Y1 = h Aj h with, is a final significance of a productive indicator. Then: Ua ~ Y ^ — influence of the factor and, Yb — Yt — factor influence, Yx—Yt — Influence of the factor with. At
  18. 1. An estimation of macroeconomic indicators of quality of services THAT FSS.
    the size of monthly average wages, the size of a living wage and the minimum wage rate, number of citizens with incomes below a living wage and others allow to estimate quality of services THAT FSS, and also influence quality of a life of the population. 1.1. The indicators estimating degree of distribution of services THOSE FSS in a
  19. the Macroeconomic and microeconomic approach to studying of a subject of an economic theory
    the limits of an economic theory subject - the macroeconomic approach and the microeconomic approach. Macroeconomic (macroeconomic) the approach to studying of economic events consists that object of researches - the economic system - is considered outside, as a unit. It means, that internal links, the internal system of object is ignored, and generalising indicators of functioning of economic
  20. the Additional literature
    the Monetary world" Milton Fridmena. M, 1989, gl. 2, with. 50-76. In and g g about R. J. Macroeconomics, 5 ed., N.Y., 1993, ch. 4, p. 95-116, ch. 16-20, p. 423-574. Dornbusch R., Fischer S. Macroeconomics. 7 ed., N.Y., 1994, ch. 3-4, p. 55-122, ch. 10, p.
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